[Report] Oh, on Sewoon Sangga Demolition Plan... Merchants "Then Where Should We Do Business?" Frustrated

On the 21st, Oh's Sewoon District Development Plan Announced
Local Official Representative "Will Take Over 10 Years"
Expresses Fatigue Over Policy Discontinuity

On the afternoon of the 22nd, Sewoon Sangga in Jangsa-dong, Jongno-gu, Seoul. As new officetel buildings and redevelopment projects are underway around the shopping complex, construction noise was continuously heard.
Photo by Hwang Seoyul

[Asia Economy Reporter Hwang Seoyul] On the afternoon of the 22nd, I visited Sewoon Shopping Center in Jangsa-dong, Jongno-gu, Seoul. As new officetels were being constructed around the shopping center, the sound of steel rods clashing could be heard, but inside the shopping center, only silence prevailed. The merchants of Sewoon Shopping Center showed displeased reactions, as gloomy as the weather, saying, "Then where are we supposed to do business now?" following the announcement of Mayor Oh Se-hoon's plan to demolish Sewoon Shopping Center the day before.

On the 21st, Mayor Oh Se-hoon announced the ‘Green Ecological Urban Re-creation Strategy,’ stating that the Sewoon District would be the first area to be redeveloped. The plan is to reorganize the 440,000㎡ area stretching from Jongmyo to Toegye-ro to secure about 140,000㎡ of green space. Accordingly, the aerial walkway, which former Mayor Park Won-soon had been constructing as part of the Sewoon Shopping Center preservation policy, is also scheduled for demolition.

Merchants in the area sighed at Mayor Oh’s announcement. Yoo Dong-yeon (64), who runs a CCTV store, said, "Merchants who can move from redevelopment areas to other regions have all left, and small business owners are gathered at Sewoon Shopping Center." Yoo added, "I also used to work at the nearby Hyundai Shopping Center, but when it was demolished, I came here," and appealed, "Where should I go now?"

An elevated pedestrian walkway connecting Sewoon Cheonggye Shopping Center is installed on both sides of Sewoon Shopping Center. On the 21st, Seoul Mayor Oh Se-hoon announced plans to transform the Sewoon district into a green space and also to dismantle the elevated pedestrian walkway.
Photo by Hwang Seoyul

Due to compensation issues for tenants in the Sewoon District, it is expected to take a long time before the development of the Sewoon District proceeds. Mayor Oh also anticipated that it would take at least 10 years to demolish the aerial walkway due to consumer and tenant eviction issues. Han Kwang-cheol (53), who sells car navigation systems, said, "There needs to be a policy to provide basic compensation to merchants or to prepare spaces where they can continue the same business." The head of real estate agency A also said, "Investment inquiries are about 1.5 times more than usual, but they say it will take more than 10 years until development," and questioned, "There are hundreds of tenants, but isn’t there no clear mention of compensation issues?"

Some merchants expressed fatigue over the inconsistent policies. Mayor Oh had already announced a plan to restore green parks through redevelopment of the Sewoon District during his previous term in 2009. However, after former Mayor Park Won-soon took office, the policy shifted to preservation, including the creation of aerial walkways and support for youth startups at Sewoon Shopping Center. Now, with Mayor Oh’s reappointment, the policy has reverted to redevelopment. Han said, "Policies keep changing, so I don’t know what will happen next," expressing doubts about the realization of the policy.

Meanwhile, some merchants agreed with the Sewoon District development policy but questioned whether it necessarily had to be green space. Choi Chan-woo (60), an electronic parts merchant, said, "The shopping center needs to change with the times, but I hope it leads to development that is true to the character of Sewoon Shopping Center."